Nonprofit Tax

Top Greensboro CPA Firm · Best Tax Accounting for Nonprofits in Greensboro NC

Tax-exempt organizations are held to an extremely high standard. They can expect donors, the government, the media and the general public to all scrutinize their operations. Although nonprofits usually don’t pay taxes, they do prepare an annual informational return (Federal Form 990) to showcase how they use their funds and fulfill their mission.

The nonprofit tax specialists at CPAs & Advisors will work closely with you on both the financial and narrative sections of this public document. We will work with you so your 990 paints an accurate and compelling picture of your nonprofit’s mission, financial health, governance standards and operational effectiveness.

Beyond our meticulous Form 990 work, we also handle all aspects of nonprofit tax planning, tax-related regulatory compliance, tax analysis and more. We guide your organization through the myriad of rules and regulations involved in maintaining its tax-exempt status, so you can focus on your important work.

Meet tax obligations confidently and strategically

Accurate filing of IRS Form 990 and compliance with financial rule ASC 740 and ASC 740-10 is central to maintaining your status as a not-for-profit. These rules are part of the provisions on calculating current and deferred income tax now required of all organizations adhering to U.S. GAAP standards. Our CPAs has in-depth understanding of the rules and requirements and will apply best practices to support all of your not-for-profit tax filings.

UNRELATED BUSINESS INCOME TAX (UBIT) (FORM 990-T)

Generating income from an activity unrelated to your not-for-profit’s tax-exempt purpose, such as rent, interest, or royalties from financed property, may subject your organization to the Unrelated Business Income Tax (UBIT). Our team can aid you in calculating and reporting UBIT income and can also work with you to shift your organizational focus to minimize it.

ALTERNATIVE INVESTMENT REPORTING AND K1S

Alternative investments may trigger UBIT liabilities. Accountants & CPAs can work with you to determine any potential issues and can also help you carefully structure your K1 to accurately report investment income and its sources.

In-depth knowledge

We work with more nonprofit organizations annually. This experience means our CPAs fully understand tax-exempt organizations and their unique financial and regulatory demands.

Critical expertise

In the event that your nonprofit does have to pay some tax, we can help you achieve the best possible outcome. We’re also experienced at finding solutions for nonprofits whose tax-exempt status may be in jeopardy.
Reliable guidance

We can help your organization avoid possible fines or challenges to your nonprofit status by complying with IRS fundraising and lobbying regulations. We advise our clients on opportunities and risks throughout the year – not just during tax preparation. Our experts are involved on local, regional and national levels to follow changes and keep our clients informed.

Nonprofit classification proficiency

Nonprofit classification proficiency

We are experts in all nonprofit classifications, including 501(c)(3), 501(c)(4) and 501(c)(6) entities. Each classification has specific requirements, including the need to prepare certain tax forms. Our clients depend on Mildrid Esua, CPA to assist them in all these nuances and alert them to updates and opportunities.

Comprehensive support

In addition to preparing your Form 990, our nonprofit audit specialists can perform your financial statement, Uniform Guidance (single) or internal audit. With a full picture of your organization’s operations, we can also provide expert advisory services. We help you consider industry best practices and can oversee all aspects of your organization’s finances, if needed. We use both internal resources and long-time relationships with outside service providers.

Do you have questions about Accounting Services we offer in North Carolina, Greensboro or in Charlotte, NC? Would you like to receive a personal accounting services consultation customized to your specific needs? To schedule an appointment with internationally recognized best Greensboro CPA firm, Mildrid Esua of Mildrid Esua, CPA, PLLC Firm, please contact our office in Greensboro or Charlotte for a FREE accountant consultation.